Goldman Sachs Group set a $85.00 price objective on Nike (NYSE:NKE) in a research report released on Tuesday morning. The brokerage currently has a neutral rating on the footwear maker’s stock.
A number of other equities research analysts have also issued reports on the company. Morgan Stanley set a $103.00 price target on Nike and gave the stock a buy rating in a research note on Tuesday, December 11th. Bank of America set a $55.00 price target on Nike and gave the stock a sell rating in a research note on Sunday, December 30th. JPMorgan Chase & Co. reissued a buy rating and set a $85.00 price target on shares of Nike in a research note on Thursday, December 27th. Robert W. Baird lowered Nike from an outperform rating to a neutral rating and set a $76.62 price target for the company. in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Cowen set a $80.00 price target on Nike and gave the stock a hold rating in a research note on Friday, January 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-six have assigned a buy rating to the company. Nike currently has a consensus rating of Buy and a consensus price target of $86.76.
NYSE:NKE opened at $87.69 on Tuesday. The company has a market capitalization of $138.21 billion, a PE ratio of 36.24, a P/E/G ratio of 2.71 and a beta of 0.68. Nike has a 1 year low of $63.21 and a 1 year high of $88.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the company earned $0.46 EPS. Nike’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts expect that Nike will post 2.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.00%. Nike’s dividend payout ratio is presently 36.36%.
In other news, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares in the company, valued at $124,361,745.84. The disclosure for this sale can be found here. Insiders sold a total of 800,000 shares of company stock worth $61,862,000 over the last quarter. Company insiders own 3.90% of the company’s stock.
Several large investors have recently made changes to their positions in NKE. Oregon Public Employees Retirement Fund increased its holdings in shares of Nike by 6,517.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after acquiring an additional 34,749,961 shares during the period. Norges Bank purchased a new position in shares of Nike in the 4th quarter valued at $892,899,000. BlackRock Inc. increased its holdings in shares of Nike by 4.3% in the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after acquiring an additional 3,592,186 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Nike in the 4th quarter valued at $224,658,000. Finally, AQR Capital Management LLC increased its holdings in shares of Nike by 352.5% in the 3rd quarter. AQR Capital Management LLC now owns 3,839,908 shares of the footwear maker’s stock valued at $325,317,000 after acquiring an additional 2,991,299 shares during the period. Institutional investors and hedge funds own 64.77% of the company’s stock.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Recommended Story: What is a Derivative?
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.